Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) had its target price cut by analysts at Raymond James Financial, Inc. from $27.00 to $25.00 in a note issued to investors on Monday. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Raymond James Financial, Inc.’s price objective would indicate a potential upside of 19.56% from the company’s previous close.

PEGI has been the subject of several other research reports. Williams Capital began coverage on Pattern Energy Group in a research report on Monday, October 16th. They set a “buy” rating and a $28.00 price target for the company. Zacks Investment Research downgraded Pattern Energy Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. BidaskClub downgraded Pattern Energy Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Wells Fargo & Company lowered their price objective on Pattern Energy Group from $27.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $28.50 price objective on shares of Pattern Energy Group in a research report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $25.65.

Pattern Energy Group (PEGI) traded down $0.66 during trading on Monday, reaching $20.91. The company’s stock had a trading volume of 1,450,400 shares, compared to its average volume of 1,290,805. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $1,999.77, a P/E ratio of 2,091.00, a price-to-earnings-growth ratio of 6.92 and a beta of 1.02. Pattern Energy Group has a one year low of $18.68 and a one year high of $26.56.

WARNING: This report was first reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another website, it was stolen and republished in violation of United States & international trademark and copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/11/13/raymond-james-financial-inc-trims-pattern-energy-group-inc-pegi-target-price-to-25-00.html.

In other Pattern Energy Group news, insider Esben W. Pedersen sold 1,200 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $25.10, for a total transaction of $30,120.00. Following the transaction, the insider now owns 148,211 shares in the company, valued at $3,720,096.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Esben W. Pedersen sold 2,400 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $23.01, for a total value of $55,224.00. Following the transaction, the insider now owns 143,411 shares in the company, valued at approximately $3,299,887.11. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock worth $179,075 in the last quarter. 1.60% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Pattern Energy Group by 0.7% during the second quarter. Vanguard Group Inc. now owns 5,870,834 shares of the utilities provider’s stock worth $139,961,000 after purchasing an additional 38,599 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Pattern Energy Group by 19.6% during the second quarter. New York State Common Retirement Fund now owns 83,338 shares of the utilities provider’s stock worth $1,987,000 after purchasing an additional 13,637 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Pattern Energy Group by 2.3% during the first quarter. California Public Employees Retirement System now owns 153,300 shares of the utilities provider’s stock worth $3,086,000 after purchasing an additional 3,500 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of Pattern Energy Group by 31.0% during the second quarter. Advisor Group Inc. now owns 5,039 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 1,193 shares in the last quarter. Finally, Brookfield Asset Management Inc. lifted its stake in shares of Pattern Energy Group by 10.0% during the second quarter. Brookfield Asset Management Inc. now owns 2,465,908 shares of the utilities provider’s stock worth $58,787,000 after purchasing an additional 224,508 shares in the last quarter. Institutional investors own 86.11% of the company’s stock.

Pattern Energy Group Company Profile

Pattern Energy Group Inc is an independent power company focused on owning and operating power projects. The Company holds interests in over 18 wind power projects located in the United States, Canada and Chile with total capacity of over 2,644 megawatts (MW). Each of its projects has contracted to sell its output pursuant to a power sale agreement.

Analyst Recommendations for Pattern Energy Group (NASDAQ:PEGI)

Receive News & Ratings for Pattern Energy Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pattern Energy Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.